It wasn't a reliable source of information back then either. Anywhere there are humans, there are lies and misinformation. It's in our nature. Doesn't matter whether it is online or offline.
Is it really in our nature? Or is it something that results from the incentives that emerge from the social systems (primarily the particular money systems) we've built over time?
Yeah but back then it was humanly possible to know where the bullshit was and how to avoid it. It’s pretty much 99% of the web now. Try going without HN and only using Reddit from now on and tell me how that works out.